NEW DELHI, June 4: Copper prices fell 0.44 per cent to Rs 410.95 per kg in futures trade today as speculators engaged in trimming positions amid a weak global trend.
At the Multi Commodity Exchange, copper for delivery in June fell by Rs 2, or 0.44 per cent, to Rs 410.95 per kg in a business turnover of 417 lots.
In a similar fashion, the metal for delivery in far-month August declined by Rs 1.60, or 0.39 per cent, to Rs 413.65 per kg in 14 lots.
Market analysts said the fall in copper prices at futures trade was due to offloading of positions by speculators, taking weak cues from global market on signs of slowing Chinese demand and amid reports of a probe into metals warehousing at the country’s Qingdao port.
Meanwhile, copper for delivery in three months fell 0.6 per cent to USD 6,820 a tonne on London Metal Exchange. (PTI)
Follow our WhatsApp channel